BLS Insights

Discover the depth of BLS knowledge and information.

IRS Eases Schedules K-2 and K-3 Filing Requirements for 2021

March 07, 2022

The IRS has announced additional relief for pass-through entities required to file two new tax forms — Schedules K-2 and K-3 — for the 2021 tax year. Certain domestic partnerships and … Continued

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BLS Nonprofit Director Shares Insights in Delaware Banker

February 23, 2022

The Financial Professional’s Role on a Nonprofit Board by Jonathan D. Moll, CPA – Director of Nonprofit Services – was published in the Accounting for Success Column of the Winter … Continued

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New Tax Reporting Requirements for Payment Apps

February 15, 2022

If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square, or PayPal, you could be affected by new tax reporting requirements that take effect … Continued

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Matter of Tax + Nonprofit Ledger = BLS Insights

February 07, 2022

Welcome to BLS Insights! In an effort to streamline our communication to our contacts in a more user friendly way, we have merged two of our blogs, A Matter of … Continued

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Old Outstanding Checks – What to do?

February 07, 2022

A common area of confusion among organizations is how to handle old outstanding checks on bank reconciliations. Many states have reporting requirements regarding unclaimed property (including uncashed checks). Depending on … Continued

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State and Local Tax Planning Consideration for Year End – 12.31.2021

December 17, 2021

The House version of the Build Back Better Act, residing in the Senate for consideration, contains a variety of provisions that we discussed in a previous blog, U.S. House Passed … Continued

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U.S. House Passed the Build Back Better Act – Waiting for the Senate to Weigh In

November 29, 2021

On November 19, the U.S. House of Representatives passed a crucial part of President Biden’s agenda by a vote of 220-213. While we are waiting for the Senate to vote … Continued

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2022 Cost-of-Living Adjustments

November 19, 2021

Don’t forget to factor 2022 cost-of-living adjustments into your year-end tax planning The IRS recently issued its 2022 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly … Continued

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Potential Tax Law Changes Affecting Business Year-End Tax Planning

November 11, 2021

The end of the tax year is fast approaching for many businesses, but their ability to engage in traditional year-end planning may be hampered by the specter of looming tax … Continued

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Potential Tax Law Changes Affecting Individual Year-End Tax Planning

November 11, 2021

As if another year of the COVID-19 pandemic wasn’t enough to produce an unusual landscape for year-end tax planning, Congress continues to negotiate the budget reconciliation bill. The proposed Build … Continued

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